Goldman Sachs Group Inc. Purchases 203,462 Shares of Credo Technology Group Holding Ltd. $CRDO

Goldman Sachs Group Inc. raised its position in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 11.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,021,020 shares of the company’s stock after buying an additional 203,462 shares during the period. Goldman Sachs Group Inc.’s holdings in Credo Technology Group were worth $290,805,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Savant Capital LLC grew its stake in shares of Credo Technology Group by 0.7% in the third quarter. Savant Capital LLC now owns 9,914 shares of the company’s stock worth $1,444,000 after purchasing an additional 68 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Credo Technology Group by 16.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company’s stock worth $80,000 after purchasing an additional 77 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Credo Technology Group by 0.6% in the third quarter. Illinois Municipal Retirement Fund now owns 15,783 shares of the company’s stock worth $2,298,000 after purchasing an additional 91 shares during the last quarter. Spirepoint Private Client LLC grew its stake in shares of Credo Technology Group by 6.6% in the fourth quarter. Spirepoint Private Client LLC now owns 1,688 shares of the company’s stock worth $243,000 after purchasing an additional 105 shares during the last quarter. Finally, Crewe Advisors LLC grew its stake in shares of Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Susquehanna boosted their price objective on shares of Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Credo Technology Group from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday. Weiss Ratings raised shares of Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Rothschild & Co Redburn assumed coverage on shares of Credo Technology Group in a research note on Friday, May 1st. They issued a “buy” rating and a $206.00 price objective on the stock. Finally, Stifel Nicolaus set a $250.00 price objective on shares of Credo Technology Group in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.41.

Credo Technology Group Trading Down 4.9%

Shares of CRDO opened at $206.89 on Friday. The stock has a market capitalization of $38.16 billion, a P/E ratio of 83.42, a price-to-earnings-growth ratio of 1.41 and a beta of 3.22. The firm’s fifty day simple moving average is $169.65 and its two-hundred day simple moving average is $147.19. Credo Technology Group Holding Ltd. has a 12 month low of $66.75 and a 12 month high of $245.95.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. The business had revenue of $437.00 million for the quarter, compared to analysts’ expectations of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The business’s quarterly revenue was up 157.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 earnings per share. As a group, research analysts predict that Credo Technology Group Holding Ltd. will post 3.93 EPS for the current fiscal year.

Insider Activity

In other Credo Technology Group news, CEO William Joseph Brennan sold 6,149 shares of the company’s stock in a transaction on Sunday, April 5th. The shares were sold at an average price of $101.45, for a total transaction of $623,816.05. Following the sale, the chief executive officer owned 222,311 shares of the company’s stock, valued at approximately $22,553,450.95. This represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James Laufman sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $164.41, for a total transaction of $1,644,100.00. Following the sale, the insider directly owned 198,609 shares in the company, valued at $32,653,305.69. This trade represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 386,608 shares of company stock worth $50,371,351. 11.84% of the stock is owned by insiders.

About Credo Technology Group

Credo Technology Group, Inc (NASDAQ: CRDO) is a fabless semiconductor company that develops high?speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low?latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.

Credo’s product portfolio centers on high?speed analog and mixed?signal devices designed to preserve signal integrity and extend reach over copper and optical links.